HMRC was always helpful with me over the phone, it takes a while to get hold of them, but it's worth it, they mistakenly fined me for self assesment once, called them and they sorted it out.
If you earn less than £1000 my understanding is that you don’t need to declareI’m registered as self employed but hardly did any self employed work in this last tax year as working as employed. I am due my baby in a month and wondered two things;
1) can I do self employed work now whilst receiving SMP as my contract at work doesn’t say I can’t
2) I’ve just gone to do my self assessment online but as soon as I ticked that I had earned less than £1000 is seems to be saying I don’t need to fill it in. So has something changed recently ? Thanks guys
I’m registered as self employed but hardly did any self employed work in this last tax year as working as employed. I am due my baby in a month and wondered two things;
1) can I do self employed work now whilst receiving SMP as my contract at work doesn’t say I can’t
2) I’ve just gone to do my self assessment online but as soon as I ticked that I had earned less than £1000 is seems to be saying I don’t need to fill it in. So has something changed recently ? Thanks guys
A) yes just ring HMRC and askEvening all,
Just got a few Q's regarding self assessment tax:
a). I didn't realise that I'd earn much last year, but think I've actually earnt just over £1,000+ in tax year 2019-2020, but my S.A account is dormant with HMRC. Can I retrospectively re-activate it and pay up?
b). When accounting for work such as Lionbridge or Prolific - do we account for when the work was completed or when we actually cashed out? I've let cash build up in both and haven't yet cash out.
c). I noticed that some companies and affiliates pay in US dollars or Euros - how do we account for other currencies?
Personally I would declare the money when you actually have it in your bank account (ie, can access it)thanks Jon, just a few follow-ups:
B) what i'm wondering is: do I account for the date that Lionbridge actually paid me? ...or the date that I withdraw the money?
c) Thing is i've not withdrawn from Lionbridge, Prolific, etc as I haven't needed the cash yet
Yeah they won’t careSo I just completed my first self-assessment. Hopefully, I have done it correctly. I opted to pay voluntary national insurance. Will they contact me to ask for the money?
And also I am nervous that I am down as a business although it's just me doing whatever online income work I can find as it sounds so formal. I did explain that on the extra info section, they probably don't care!
100% for the sort of online work we do on here you can basically put a zero of most of those finance boxes!Like most similar things in life, fairly simple once you concentrate on it (unless you have complex finances).
If your courses/expenses are under £1k, just claim the trading allowance.Hi,
I am looking at doing last year's tax return and I am wondering what I can pass on as a legitimate expense. I didn't earn that much and since it was my first year tutoring, I have incurred a lot of set-up expenses. I also am doing some CPD courses. Can I claim tax relief on these?
By CPD, I mean that I am doing dyslexia training but I am a qualified teacher. Does this imply retraining or CPD?
Thanks,
Sian